To attract more apps. To show awareness of the increased injury potential encountered by training on a 200 meter track. Because 400 meter track is the worldwide standard, but exceptions are made for indoor tracks due to cost & space limitations ( not areas of concern for a school in rural Maine with such a healthy budget). Because it is cold in Maine for much of the school year, so indoor facilities are important to steer students away from heavy useage of alcohol.
Just because other institutions are limited by space & budget considerations doesn’t mean that a school without those limitations should go second class–and a 200 meter track is definitely second class when compared to the worldwide standard 400 meter track. Location is a factor.
Maine is cold so students will train & exercise indoors for much of the year. Warmer locations can install a 200 meter track due to cost & space limitations, but usually have an outdoor 400 meter track that is comfortable for the entire school year. (Limit useage of the 200 meter track for competitions & for training for the 60 meter events.)
So many more reasons, but the short version is that Colby College had a chance to do it right. Unquestionably, a 400 meter track is safer for all.
P.S. The increased positive publicity alone would have made the investment in an indoor 400 meter track worthwhile for Colby College.
As an aside: Maine has the oldest population among the 50 states & Maine has difficulty attracting & retaining young people. Of course this is due to many factors, but recreational & healthy activities are important to young adults & to young families.